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Don
Returning Member

how to report charitable contributions made from an IRA to a charity

 This is the first year I made charitable contributions  from an IRA directly to a charity.   I also withdrew  some funds directly to me.  The 1099 form I received  reported the total from both distributions as taxable income to me.  Where on my forms do I reduce the contributions that went directly from the IRA account charity from my taxable amount.

3 Replies
SamS1
Expert Alumni

how to report charitable contributions made from an IRA to a charity

You need to be at over 70 1/2 to take the Qualified Charitable Distribution deduction for your withdrawal.  If you are at least 70 1/2, TurboTax will ask whether a portion of your withdrawal was QCD under the Uncommon Situations screen directly after you entered the 1099R information in TurboTax Online.  Please follow these steps to enter your 1099-R and QCD:

  1. Login to your TurboTax Account 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R” and enter your 1099-R
  4. On the "Do these situations Apply" screen, check the box "I transferred all or part of this money directly to charity"
  5. Continue "How much did you transfer directly to charity" enter amount.
  6. Continue answering the questions.

You can verify your entry by looking at your Form 1040 line 4 or 5:

 

  1. Click on "Tax Tools" in the left menu
  2. Click "Tools"
  3. Click "View Tax Summary" in the Tool Center window
  4. Click on "Preview my 1040" on the left

 If you are working in TurboTax Desktop:

  • Enter the 1099R
  • You need to go to forms mode in upper right hand corner of screen.
  • Click on the 1099R entered
  • Scroll down the 1099R screen until you see the QCD
  • Enter the amount of your contributions..

 

 

 

Don
Returning Member

how to report charitable contributions made from an IRA to a charity

Sam

 

I do not see anywhere a comment  "Do these situations apply"?

 

What am Ii doing wrong?

SamS1
Expert Alumni

how to report charitable contributions made from an IRA to a charity

Are you using TurboTax Desktop?  You will not see that screen in TurboTax Desktop.  If you are using TurboTax Online, the screen should be right after you input your 1099R data.  Check your birthdate in your "My Info" to make sure it is correct.  If you are younger than 72, you might try changing your age to reflect you 72, complete the 1099R QCD screens, then change your age back.

 

In TurboTax Desktop, you will see this screen after you input your 1099R and continue.

 

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